UPDATE: ABG Sundal Collier Reiterates Buy Rating, Raises PT on Autoliv
In a report published Friday, ABG Sundal Collier reiterated its Buy rating on Autoliv (NYSE: ALV), and raised its price target from $72.00 to $75.00.
ABG Sundal Collier noted, “We reiterate our BUY rating but raise our target price to USD 75 (72) as 2013e metrics get a higher weight in our model. Changes to our estimates are limited at -1-3% on EPS for 2012e-2013e with lower light vehicle production estimates in Europe as OEMs reduce inventories as the main negative factor. Our positive stance comes partially from our view of Autoliv's ability to grow sales and earnings being underappreciated, but mainly due to the opportunity for improving capital efficiency. Autoliv reports Q3 on 23 October.”
Autoliv closed on Thursday at $64.40.
Latest Ratings for ALV
|Jul 2016||Deutsche Bank||Maintains||Hold|
|Jun 2016||Berenberg||Initiates Coverage on||Hold|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.